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for next week. and the s&p is up a fraction after having been sharply lower earlier. now at 1407. meantime, the democrats are kicking off their convention today as election day is a little over two months away. with that in mind, looking at how the markets have done between labor day and election day traditionally. in the months leading up to the re-election of president george w. bush in 2004 it was the best period for the markets among the three most recent election cycles. so as we kick off another cycle, should we expect the same thing? >> we're looking at it. let's get to "closing bell exchange." we have brian belske, alan nukman, chris costantinos and steve leasem steve li esman with us. >> there's a very good chance we give back a little bit of these summer gains that have surprised most investors, as most investors remember back in june, july, were so bearish. market ran in their faces a little bit. remember as bill said at the top of the broadcast, september traditionally is the worst month of the year. would not be surprised if we see some weakness. our call is for a rally before
of those dow components. jpmorgan as well. check the s&p 500. here's a look. again, that is the highest of the day. just shy of it, actually. up 14.5 points. better than 1%. we mentioned that gdp data. let's not forget we also had a dismal report on durable goods orders, once again showing weakness in this economy. investors not worried about these numbers today. >> we got decent news out of europe and china this morning. either way, we're asking if investors should think twice before buying into this kind of a rally based on what the u.s. economy is telling us right now. let's talk about it in today's "closing bell" exchange. we have larry blazer from mayflower advisers and our own rick santelli and mandy drury. larry glazer, you happen to believe that economically there's an iceberg dead ahead. this market doesn't act like it today. >> no, it doesn't. you can see today investors are so focused on the global stimlouse story that they're missing the big picture. the big picture is the fact that the economic data, particularly global manufacturing data, is absolutely rolling over. look a
this morning now at 3188 on the nasdaq index. the s&p 500 is up 51/3 points. can this market continue the winning streak even if it is in baby steps? will lower oil and gas prices help if oil keeps heading lower? that's been a leader in this market. there's also a new survey that shows investor confidence is improving, something that hasn't happened since the crisis of 2008. >> pretty amazing, actually. it's our closing bell exchange now. in a moment, our rick santelli will be joining us. let's kick this off. you point out that in terms of investor sentiment, it's up from a low level, and the markets has more room to run. how much do you believe this is attributed to the price of oil? >> well, the price of oil is impacting the market, but it's all about the qe at this point. quantitative easing is really significantly impacting the market, irrespective of what the economy is doing. you're seeing a decoupling between the market and easing. the investor sentiment survey you talked about, yes, it's high, but there's still a lot of runway to go, given where it has been in the past. >> bit
behavior now. s again, i don't have a number, i don't know how big that effect is. certainly the sooner that can be resolved, the sooner it can be clarified, it will be beneficial not just because we avoid the cliff itself, but because we clarify for firms, for employers and investors how that's going to be resolved. so i think it's an issue that is of some consequence, yes. >> hi, mr. chairman. how much was the fiscal cliff a decision or a factor in your decision to do an open-ended qe instead of a fixed? or a fiscal uncertainty, more generally. >> we take the economy as we find it. there are a lot of head winds right now that are affecting the economy. there's fiscal head winds. there's international factors, including the situation in europe. there's factors arising from still impaired credit markets and so on. so we looked at that, looked at the economy from the perspective of, you know, how quickly it's been growing over the last six months to a year. and as i talked about in a speech in march, in order for employment gains to be sustained for unemployment to fall, the economy need
in the 1930s. and there is really no historical basis on which to make these predictions that intervention and assistance from a policy perspective doesn't help the economy. there are 46.7 million people on food stamps who would argue quite differently right now. >> ron, yes, there is. in fact, we're repeating the mistakes of japan, we're repeating the mistakes of the 1930s. we are intervening. we're doing it in a worse way. and the fed can't help. all they can do is make it worse. >> but that's patently false. you're not backing that up with anything, peter. >> no, i'm backing it up with facts. >> i haven't heard one yet. >> all the fed can do is delay the pain. and how do you think i knew the crisis was coming? how do you think i was on cnbc in 2505 and 2006 worrying about it? and when everybody else was calling for a recovery in 2009 and 2010, i said it wasn't real. i said we will be back in recession and we will be. >> let me just respond by saying if it's not real, it's the best fake 100% rally in stocks i've seen. >> and the economy is growing 2% where it would have been down 9%, 10%
, about 45 points. nasdaq also weaker. it's too sitting at the low of the day, down 24. s&p 500, weaker by 7 1/2. let's talk more about caterpillar. the stock down 3% after forecasting weak growth through 2015. investors clearly not happy to see another gloomy outlook. even a report showing an uptick in july home sales. >> is this a red flag given the company's status? we posed that question in our "closing bell" exchange today with michael, debra, jeff cox, and our own rick santelli. deb, what do you think? is this a one-time situation, or are we starting to see a trend after fedex and now caterpillar? >> well, we're definitely clearly seeing a trend because these aren't small companies that are starting to give us warnings. the thing that worries me about caterpillar is when we look at these jobs numbers every month, the shining spot has been mining. here we go. we're going to start to lose these mining jobs. that's a big concern. >> so what is the issue here? is it china slowing down? is it the u.s.? where would you put the biggest blame in terms of the c.a.t. expectations? >> well,
almost a percent at 3110. the s&p is down four points at 1433. let's get reaction to today's markets. investors may be in the holding pattern but debora calls this a teflon market. she says no matter what negative news we throw at it, it doesn't stick. we'll talk about that as the fed decision comes down the pipe. our steve liesman and rick santelli join us as well. debora, i mean, you're right. we are sitting here with a weak economy, a bad jobs report and the stock market just continues going higher. what do you make of that? >> my general feeling is that we've started to get past europe. jpmorgan said they're overweight european securities. if we were going to get selling, we would have seen that on friday. like you said, that was a terrible jobs report. we've been in this europe situation for three years now. they've had meetings and meetings to discuss meetings. so, we're starting to feel, you know what, it's going to be okay over there. ben bernanke, he's going to stay they're going to do whatever it takes. they're concerned about jobs. the same old thing out of him again. agai
playing along today as well. a gain of better than 1%. take a look at the s&p 500 which is higher today. let's take a closer look at today's rally. why investors seem to like the latest move by ben bernanke. john riding is not so convinced. he calls the move misguided and says the risks may outweigh the rewards. >> let's ask today's panel if they agree. joining us is paul christopher of wells fargo advisers, karen karen, and our own rick santelli. talk to us a bit about this. >> i'm not saying it's bad for the markets. we're getting a sugar rush. for the economy, it hurts savers. it hurts seniors. after qe-2, we saw a big commodity price increase, which squeezed earners as well because wages didn't go up, but inflation did. i'm very worried that this is actually going to hurt a whole bunch of people. on the borrowing side, even if rates come down and treasury yields have gone up since qe-3, on the borrowing side, people can't get the mortgages who need them. it doesn't matter what rate that mortgage is at. you get more bang for your buck focusing on who can get mortgages, changing the b
%, 7% gain for the dow for the quarter. nasdaq's down 12 right now at 3123. the s&p 500 index is down about five points at 1441. >> we want to look at the history books. if history is any guide, things should be looking good for the bulls in the next few months. according to s&p capital iq, since the year 2000, the third quarter has only been negative three times. >> the index has seen an average gain in past fourth quarters. what about this year, especially in light of the elections, the unresolved fiscal cliff issue, all this quantitative easing money out there, the uncertainty in europe? let's look ahead in today's "closing bell" exchange. you know, carol, we've had this discussion this week about the games in the market don't seem to reflect the declines in the economy. there's sort of a disconnect. i think you agree with that, don't you? >> i absolutely agree with you, bill. i think all of september the market has been moved, not by what's going on here in the united states, but what's been going on in europe, which says to me two things. one, any bad news out of europe is going
to pick up any steam on the heals of yesterday's big rally. the u.s. creating huer jobs than anticipated. not just in august, but june and july were revieszed downward as well. stocks could be worse off if these weak numbers didn't make wall street more convinced that the fed would move with a monetary stimulus to revive the economy in some way. >> here is where we stand, the dow jones is lower by 9.5 points. the nasdaq is still -- i spoke too soon, it had been slightly positive -- >> give it another couple minutes. >> 3134, the s&p is still in positive territory. >> it's like the weather in hawaii, you don't like it now? just wait it will get better. a bailout may be a fore gone conclusion, but is this likely to happen because our economy is not better -- >> we have steve leisman and rick santelli. the jobs report was not pretty, are we still maintaining the levels that we've got because of hopes of the central bank acting next week. >> yeah, i think it's a global liquidity, and i think the behavior all argue for that premise. steve tough to find silver linings but they revised june and
this friday afternoon. nasdaq, also off of the best levels with the game on the session of 5.75. check the s&p 500, and we see where that's trading really flat on the session, just about a point higher. the last day for kraft before it gets replaced by united health and the dow industrials. will this steady march to dow 14,000 in an all-time high continue next week. >> we pose that question in today "closing bell" exchange w.us kevin o'brien of revere data, rod smith of river front investment group, cnbc contributor stephanie link, and our own rick santelli. kevin, you're a stock market bull, so this meltup towards 14,000. you think it continues for the dow? >> we think the market is headed in a pretty good direction. overall investor sentiment is quite positive. when you think about today, for example, with expirations, we call it the perfect storm of expirations and traditionally seen a lot of volatility there, and when you look at the vix, for example, over the past year, it's trading at basically a low, so the markets pretty much with thinking there's good general direction going forward
a tough day for technology. apple shares taking a hit. sales of 5 million iphone 5 s over the weekend. not enough for some analysts. they had expected more. and i guess selling 19 phones a second is not enough. on the flipside, rival google soaring today. shares there now poised to close at an all-time high. look at them, almost $750 a share. facebook taking a hit after barron's said the stock is still too pricey. >>> let's take a look where we stand as we approach the final stretch on monday. dow jones near the highs of the day. it's been a quiet session. up 12 points on the industrial average, fractional move at 12591. nasdaq and that's where you have the movement. down 0.5%, 15 points lower at 3165. tech sliding the market. s&p similar chart pattern, just shy of the high of the day but a declines on the standard & poor's. >>> we are in the final week of the month and quarter. the question is now is the time to take some money off the table, given all the concerns that are percolating ahead of the november elections and how far the market, frankly, has run over the summer. matt mcco
's down 8 at this hour. all of these well off the lows on the day. now at 31.74 on the nasdaq. the s&p 500 is down just two points. >> let's get more on today's big story. the ipo market heating up. five companies making their debuts today. >> five ipo's, that's the busiest week since late august, and the most in a single day, you guys mentioned it since february 8th. trulia really taking the show. pricing a dollar above its range, it's jumped close to 50% on its opening trading day. steady gains of just about 10% from the mid point of its price for the energy company. while all stocks that debuted today are in the green. not all have had such rosie reception from the market. the two banks, capital bank and national bank holding priced below their expected range, and only up slightly on the day. capital also priced below its range, it's trading roughly flat. it's hardly enough to lift the performance of the broader ipo class this year. it's up according to renaissance capital. that means it's widely performing. it still hasn't ripened, which could be a problem for smith electric. the compa
by 220 points. 13,267. strong gains across the board here. multidecade high and the s&p 500 is higher by 26 points. >> that is a four and a half year high. or there abouts. years near multiyear highs here, but will tomorrow's jobs number confirm or dispel this rally we're having today. will a good numb make the fed rethink the stimulus? >> we have steve leisman, rick santel santelli, jeff cox with us. we heard a lot of talk about qe 3 coming, but if we get a very good payroll number tomorrow, does that actually hurt the market because that means we will not get stimulus from the fed? >> i just want to warn you that you're asking me this question when i'm in mid-thought, and nothing may be more -- >> shall we let you finish your thought? >> no, let me give you whau it is right now. keep the camera on rick here. i think even despite a strong jobs report the federal reserve may act next week. i don't think there is much in the way of this number that will keep the fed from doing some form of additional easing. i think they are too far behind the eight-ball that any single report would me
its low, 48 points at 13,545. the nasdaq at this hour is down 12 points, 0.3%. and the s&p 500 index is down six points at 1459. >> with the fed rally behind us, what is it going to take to get closer for the dow for all-time intraday high which is just 600 points away? amazing we're only 600 points away. we have a pretty big plunge in energy prices hitting stocks. is this something else we should watch out for? >> let's talk about this on "closing bell exchange." d dani hughes, blacksmith, and jack from bull and bear partners in chicago. jack, do you have any sense -- i know you like gold and oil right now. why the selloff in oil the last hour and a half or so, do you know? >> well, two things. remember, the holiday market condition, and on top of that you've had a rumor they're going to wree lease something out of strategic petroleum reserve. it takes one note like that to drive the market. it's gold that's really the question. why is gold moving the way it is? these are both markets that can turn around very quickly. i would not be -- i would not be reading too much into that nois
. the nasdaq is in negative territory by nearly five points. it's standing at 3,173. the s&p 500 also lower by four points. 14,057. >> anything can happen in this final hour. investors so far today have been weighing the upbeat housing data that we got this morning. apple's stocks surged, hit $700 for a time. then fedex's lower earnings outlook may be trumping all so far today. >> in today's "closing bell," we have david pearl and steve liesman standing by. and rick santelli. brian, we're starting with you. improved signs in consumer confidence. then fedex slashes its outlook. where do you come down on those two data points? should we be worried? >> i think what they said at fedex was exactly right. the consumer is kind of looking for a value proposition. the fact that grown shipments are doing well, but people aren't spending up to get it faster to them as people buy from the internet, they get used to that delay of getting their goods. >> is their bottom line about the economy? i mean, it's cable. is it good or bad? >> i think the bottom line of the economy is it's fine. i'm still worried
. now at 3104. the s&p 500 index today is up 1/3% or five points. >> a lot of momentum in this market. investors clearly in the mood to buy ahead of the policy decision meting and a series of key meeting and votes on the future of the european debt crisis. in fact, check out these guys with these nifty robes that you see here. >> you like that, don't you? >> the fate of the world could rest in the hands of these german justices. who will vote on the limits of germany's power to say how its money should be used, how it should be spent on measures to save the economy in europe. any setback could hit the markets hard. we're waiting for this decision coming out tomorrow. >> could you see our supreme court wearing those outfits? i don't know. i don't know how ruth bader ginsburg would take to that. let's talk about this key event and other issues that could affect inves ves to bes on this busy week. we have donald cox with us. don, what do you make of this rally? this is a market that just wants to go higher despite the concerns both here and in europe, right? >> well, it's a liquidity dri
. up now 16 points on the average. nasdaq is down, and the s&p 500 looks like this, a collar chart. back to that potential red flag for the economy. this is fed ex and ups after they cut their earnings for the first quarter. >> since they're seen as a bell weather, what do the warnings say about where the economy and the upcoming holiday season may be headed. we have guests with us now to discuss it. todd, what does this warning mean to you? you're worried about other companies as well, right? >> yes, fedex used to be a approximaty. if you want to die sect the warning, look at some of the retailers out there. remember, amazon uses fed ex, and if they're coming out with this warning, it means that people are not spending money. >> it's interesting, despite your general optimism, you see general downside scenarios hear. is it a result of what we hear going on? >> absolutely, it's not necessarily fedex, we're in a structural deleveraging economy. we're trying to work off the excess with a under capitalized banking system and high levels of unemployment, and they will probably be persi
Search Results 0 to 18 of about 19 (some duplicates have been removed)